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NBC
Oct 8, 2012 5:00pm PDT
. >> reporter: uc berkeley's energy expert severin borenstein says california's cast costs 15 to 20 cents more per gallon, made worse when one of the refineries making california's gas shuts down. several are not at full capacity, including chevron partially shut down because of the fire. >> the politicians are trying to figure out what can they do or who can they claim. often they blame the refineries. >> reporter: dianne feinstein is asking federal regulators to see if there was an illegal short squeeze. price spikes turn out years later to have been the result of malicious and manipulative trading affect. cawing on the ftc to react immediately and aggressively to protect california's consumers. borenstein says it's hard to prove but possible because there are only a few companies that produce the california clean blend. she says chevron as a hold of more than 20% of the market. >> those companies are in a position where if they change their output, it does move the price. the real question is then would they do that? would they fully produce a little less in order to keep prices higher? unf
Search Results 0 to 0 of about 1